Nottingham councillors agree £29m of saving proposals, with 110 jobs cut

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Nottingham residents are being invited to have their say on savings proposals agreed by councillors as the City Council sets its budget for 2023/24. At an Executive Board meeting, councillors endorsed £29m of savings proposals, over £10m of which require public consultation. Like all councils, businesses and households, the City Council’s finances have been impacted by the cost-of-living crisis created by soaring inflation, fuel and energy costs. A challenging employment market, increased demand for services and post-pandemic issues also add to financial pressures. Proposals agreed by the Executive Board include raising Council Tax by the full 4.99% permitted under Government proposals – made up of 2.99% Council Tax and a further 2% precept specifically towards Adult Social Care costs. Eighty percent of Nottingham’s homes are in the two lowest Council Tax bands – almost twice the national average – meaning this increase would equate to between £1.25 and £1.46 more per week for the vast majority of city residents. Other proposals, involving a workforce reduction of 110 full-time equivalent posts, include:
  • Changes to adult social care, including more independent living support instead of residential or nursing care
  • Reviewing fees and charges for parking, cremation and burials, leisure centres and cafes
  • Reviewing grants to community groups, community centres and cultural organisations
  • Withdrawing the Shopmobility service at the Victoria Centre
  • Stopping collection of household bins put out on the wrong day
  • Short-term mothballing of two floors of Loxley House pending the review of options for the council’s offices and depots
  • Increasing tariffs for EnviroEnergy customers.
Some of the proposals are part of or complement the transformation programme which is underway to radically change the way the council operates. The council’s overall budget gap is £32.2m, leaving a further £3.2m of savings to be found by February.

Aggregate Industries appointed to £1.3bn national roads delivery framework

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Leicestershire-based Aggregate Industries has won a place on a billion pound national contract to maintain surfaces on the country’s motorways and A roads. National Highways, the Government company which maintains and operates England’s strategic road network, announced its selected suppliers for the £1.3 billion Pavement Delivery Framework (PDF), with Aggregate Industries one of the 12 successful companies. Aggregate Industries won a place to deliver the contract, which covers the supply of materials, plant and labour to carry out National Highways’ road surfacing (“pavement”) and construction works for National Highways’ Operations Division, in both the North and South “super” regions for the next five years. The new agreements, which run from April 2023 to March 2028, promote the use of low-carbon materials. As part of this focus, National Highways has designated warm mix asphalt (WMA) as the contract’s default material of choice. Aggregate Industries made the switch to WMA as standard earlier this year. Mixing at temperatures 20°- 40°C lower than hot mix asphalt (HMA) it allows for a significant reduction in CO2 emissions by using less fossil fuels and resources during the manufacturing process. It is also more durable and quicker to lay, meaning roads can be reopened to traffic faster. Thomas Edgcumbe, Managing Director for Aggregate Industries’ Surfacing Solutions, welcomed the news. He said: “We’re extremely proud to successfully secure a place on this vital framework serving the south and north of the country. “We have the knowledge, experience and expertise of working on big strategic infrastructure projects and look forward to delivering on this over the next five years. “It is also really important that we will be able to continue our long standing partnership with National Highways focusing on carbon reduction, social value and efficiency. “Sustainability is a central pillar of our own business strategy and we have been leading the way on innovating and bringing new low-carbon asphalt products to market. We use warm mix asphalt as standard and have introduced products including SuperLow Carbon and Foamix® this year.” Duncan Smith, executive director of Operations at National Highways, said: “We are very happy to have secured these new agreements. Engaging an increased range of organisations from across the industry is a hugely positive step for us, allowing us to expand our supply chain and improve our resilience. “We’re also happy to be working with some organisations that we haven’t worked with previously, and we look forward to building these new relationships. These contracts will also support our Net Zero Carbon Plan, which underpins all of our work now and in future years.”

Wearable system allowing engineers to ‘see’ with their hands trialled for aerospace industry use in Nottingham

A unique system that allows engineers to use their hands as their eyes when working in confined environments is being trialled for use within the aerospace industry and other sectors. The wearable system, EyeGlove, has been developed by researchers based in the Rolls-Royce University Technology Centre (UTC) in Manufacturing and On-Wing Technology at the University of Nottingham. It contains a vision glove and a wearable display unit, including three tiny cameras, which gives the user’s hands the ability to ‘see’ inside cramped environments when conducting inspection and measurement tasks. The inspection function uses one or two of the cameras to investigate restricted areas, while the measurement function utilises all three cameras and an artificial marker to assess object dimensions. The results are then presented on a wearable display for easy observation. “Due to the incredibly restricted, and sometimes unsighted, environments we’re working in – for example, gas turbine engines – inspection and measurement tasks can’t be achieved using conventional rigid tools,” said Professor Dragos Axinte, director at the Rolls-Royce UTC in Manufacturing and On-Wing Technology.
Professor Axinte continued: “In some cases, borescope and endoscope cameras, or even robots, can be utilised to accomplish these tasks – but none of these are as flexible and dexterous as human hands. That’s why we’ve developed this novel wearable system, which allows the operator to undertake inspection and measurement tasks by using their hands as manipulators. In addition, each prototype of EyeGlove system is low-cost and affordable, costing less than £150, with further development, it has the potential to be a real gamechanger in the future.” The research team led by Prof. Axinte and Dr. Xin Dong have created three different prototypes; two containing a disjointed camera configuration that offers high flexibility, and a third miniaturised version that configures all the cameras in one finger. Preliminary testing was undertaken by six people, five of whom were beginners to the system and were given three opportunities to practice before measurements were taken. The results found that the average relative measurement error of five artificial targets was just 1.89%, with them giving the hardware a rating of 4.6 out of five. “It was great to see how quickly participants adapted to using the EyeGlove system and to have received such positive feedback to this bespoke technology. Now we’ve successfully established the concept, our next step is to liaise with suppliers about the customisation, optimisation and, eventually, commercialisation of the EyeGlove system,” said Erhui Sun, research associate at the Rolls-Royce UTC in Manufacturing and On-Wing Technology, who developed the system. EyeGlove has been funded through REINSTATE, a £21 million Aerospace Technology Institute funded project aimed at developing a portfolio of sensing, inspection and repair techniques for use within on-wing installed engines in the aerospace industry, as well as a variety of neighbouring sectors. Andy Norton, REINSTATE programme manager and Rolls-Royce technology specialist, said: “The University of Nottingham continues to develop and demonstrate cutting-edge techniques that support our aerospace aftermarket business. EyeGlove is a fantastic example of how the REINSTATE team are working creatively and collaboratively to develop inspection methods for use across the product’s lifecycle to increase engine uptime, decrease cost and customer disruption, and improve through-life sustainability. “While further maturation of the EyeGlove prototype is required, the team have achieved an important milestone through demonstration of key functionalities and its applicability within the aerospace sector.”

2023 Business Predictions: Tracy Harrison, CEO, Safe and Sound

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It’s that time of year, when Business Link Magazine invites the region’s business leaders to offer up their predictions for the year ahead.  It has become something of a tradition, given that we’ve been doing this now for over 30 years. Here we speak to Tracy Harrison, CEO of Derbyshire’s specialist child exploitation charity Safe and Sound. With budgets continuing to be squeezed but businesses still keen to fulfil their CSR objectives, Tracy encourages companies to think outside the box when it comes to charity and community support in 2023. Like all charities and community organisations, we learnt some pretty tough lessons during the pandemic on how we could best work with businesses and individuals when the opportunities for fundraising were not possible. We discovered that businesses of all shapes and sizes totally embraced the opportunity to form collaborations and partnerships rather than simply be asked for money. I will be forever thankful just how many came through for us at a time when demand for our services soared due to the increased time that young people were spending on social media and gaming platforms – increasing their vulnerability to online grooming. We all continue to face tough decisions due to the economic climate and many businesses will not be able to donate money or fundraise this coming way so my plea is to think differently about CSR in 2023. Firstly choose a charity that fits and enhances the company’s brand and values longer term. Think local as this makes a greater impact to social mobility in the community where employees and probably customers live. Research what pro bono support you can offer and could your employees volunteer their time to the charity? So before slashing charity and community budgets, consider how your company can create a legacy that will make a difference to people’s lives and enhance your brand for many years to come.

Making promotional videos on a phone costs A LOT more than you think

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Filming promotional videos on a phone is one of the fastest ways for your business to lose credibility. It’s easy to see why companies adopt this approach, because it seems at face value like it will save a lot of money to film on a phone, rather than paying to hire a video production company. However, filming on a phone – with no knowledge of videography – inevitably leads to the creation of low quality videos, which in turn associates your brand with low quality. You will ultimately pay more in the long-run, when you lose out to competitors who have invested in high quality video marketing. There is a direct correlation between how good your advertising videos are, in terms of production standards, and how the viewer therefore feels about the professionalism of your business and quality of your product. Consequently, making your own videos on a phone will actually result in far fewer sales, as viewers will instead consider your competitor to be a better and more trustworthy choice, based on the quality of their professional promo videos. 86% of marketing professionals reported that they use video as a marketing tool – 78% of which considered videos to be responsible for a direct increase in sales.[1] These marketers are the ones who hired a specialist video production company, rather than those who tried to cut corners and ‘do it on the cheap’ by filming on a phone. Hiring a production company isn’t as expensive as you might think. You could get a mini-series of videos for YouTube, a complete explainer video for your website, or a high-impact social media advert, all made to exceptional standards, for around £1000 or even less – depending which production company you choose. Glowfrog offer the best rates across the Midlands for premium grade business videos and they specialise in corporate style video production. Make high quality video marketing your priority for 2023 and enquire with Glowfrog for a free consultation at www.glowfrogvideo.com.   Sources: 1. TheSocialShepherd.com

East Midlands business confidence hits 10-month high

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Business confidence in the East Midlands rose 16 points during December to 28%, the region’s highest reading since February, according to the latest Business Barometer from Lloyds Bank Commercial Banking. Companies in the region reported higher confidence in their own business prospects month-on-month, up nine points at 28%. When taken alongside their optimism in the economy, up 24 points to 29%, this gives a headline confidence reading of 28%. East Midlands businesses identified their top target areas for growth in the next six months as investing in their teams (35%), evolving their offering (28%) and introducing new technology (26%). The Business Barometer, which surveys 1,200 businesses monthly, provides early signals about UK economic trends both regionally and nationwide.A net balance of more than a third of East Midlands businesses (37%) expect to increase staff levels over the next year, up 15 points on last month, and the highest levels of any UK nation or region. Overall UK business confidence rose seven points during December to 17%. The proportion of businesses that felt positive about the wider economy was up 10 points month-on-month to 8%, while their outlook on their own future trading prospects increased by two points to 27%. Businesses also remained optimistic about job creation, with 16% of firms planning to hire more staff in the next 12 months – up two points on November.All UK regions and nations reported a positive confidence reading in December, for the first time since July, with eight out of 11 recording a month-on-month increase in confidence. Of those, the North West (up 31 points to 40%), North East (up 24 points to 34%) and South East (up 23 points to 14%) saw the largest monthly increases, with the North West now the most optimistic overall.Dave Atkinson, regional director for East Midlands at Lloyds Bank Commercial Banking, said: “It’s fantastic to see East Midlands businesses ending what has been a challenging year for many on a high. While economic headwinds have caused confidence to waver in recent months, there is cautious optimism about the economy among businesses as we embark on 2023.“Given the region’s strength in fashion, design and manufacturing, many of its retailers will be hoping for prolonged consumer demand throughout the January sales. Busy trading periods like this can also put a strain on firms, and companies must try to maintain financial flexibility to capitalise on spikes in demand.” The manufacturing sector reversed a six-month trend of falling confidence, with a nine-point rise to 13%. Confidence in construction and services also increased by nine points to 29% and 18% respectively. However, retail confidence fell slightly, by two points to 13%. Hann-Ju Ho, senior economist, Lloyds Bank Commercial Banking, said: “Business confidence has received a boost in the run up to Christmas as firms anticipate a better festive trading period than last year. “While firms report being hopeful for a more successful 2023, inflation and the risk of an economic downturn remain the biggest concerns for businesses, with rising costs evidenced by the number of firms expecting to raise prices. “Wage growth is expected to remain high for now as retaining existing staff and attracting new talent will continue to be priorities for many businesses going into next year.”

LDC’s East Midlands team leads investment in water specialist Stonbury

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The East of England and East Midlands team of mid-market private equity firm LDC has made a significant investment in Stonbury, the UK water and environmental sustainability specialist. The national business, headquartered in Bedfordshire, has a 40-year heritage of working with UK water companies and environment agencies to deliver innovative, low-carbon solutions to maintain, repair and refurbish their critical assets, from drinking water provision to wastewater treatment, helping to protect supplies and extend asset lives. The company also delivers nature-based solutions to help customers operate more sustainably and mitigate the impacts of climate change. These range from restoring rivers to increase their capacity to retain water and boost biodiversity, to implementing natural flood management programmes that include artificial wetland creation and river channel works. Stonbury employs around 300 people across 11 locations in the UK. It recorded revenues of £44.7m in its latest financial year ending June 2022. LDC’s investment will support the business’s existing management team, led by CEO Trevor Hoyle, former CEO of environmental consultancy group RPS’s EMEA divisions. The team will increase its support for customers by expanding its range of water, wastewater and nature-based, low-carbon environmental services, through organic growth and acquisitions. LDC will also help the business to further expand into clean energy solutions. The transaction was led by David Bains, partner and head of East Midlands and East of England at LDC, and investment managers Nicole Wong and Mikayil Salahov. David and Nicole will join the Stonbury board, with Ian Burnett also joining as non-executive chairman. Ian brings board-level experience of working with other private equity-backed businesses. Trevor Hoyle, CEO of Stonbury, said: “Sustainability sits at the heart of the challenge water companies and environmental organisations are facing. Creating a more resilient and efficient water network and a healthier, safer environment will be vital to reduce the impact of significant weather events. Stonbury is well-equipped to support our clients with low-carbon and nature-based solutions. “We knew from the moment we met David and the LDC team that they were the right investment partner for us. Their relationship-first approach and extensive network of connections were important factors in our decision. With LDC’s support, we are actively exploring organic and acquisitive opportunities to expand our range of services.” David Bains, partner and head of East Midlands and East of England at LDC, added: “LDC is committed to helping companies that contribute to a more sustainable future. Stonbury’s clear purpose focuses on sustainability and its experience and expertise over many years make it well-placed to support the water and environment industries in mitigating the impacts of climate change. “We’re looking forward to supporting Trevor and the rest of the management team to continue building Stonbury into one of the UK’s leading critical infrastructure services businesses.” Stonbury was advised by MacIntyre Hudson (Corporate Finance) and Howes Percival (Legal).

LDC was advised by FRP (Corporate Finance and Debt Advisory), Browne Jacobson (Legal), KPMG (FDD) and Armstrong (CDD).

SourceBio International set to go private

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SourceBio International is set to go private after shareholders voted in favour of plans to delist from the AIM market of the London Stock Exchange. The shareholders of the Nottingham-based provider of laboratory services overwhelmingly supported the resolution. The proposal was revealed in November, when SourceBio noted that while one of the main benefits of a company being on AIM is the potential to issue new shares to raise additional funds for investment or to issue new shares as consideration for acquisitions, the company has been unable to raise money at what the directors believe to be a fair valuation and, due to the low liquidity, the shares do not represent an attractive currency. Further, the board believed that the company’s current share price does not accurately reflect the future potential of the business. The group also said that as a private business corporate development and restructuring needed to drive and develop growth may be executed faster and more nimbly, and that it would be able to command a much higher valuation for the business on eventual exit, serving in the best interest of shareholders. SourceBio estimates that it could save annualised costs of £600,000 per year in the move. Jay LeCoque, executive chairman, said: “We are confident that we can potentially grow the business faster as a private company.”

Landscape architecture practice closes the year with 25% growth

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East Midlands-based Influence Landscape Planning and Design has reported a 25% growth in turnover in 2022, and is forecasting double digit growth in 2023. Chartered landscape architects Influence provide expertise in project management, environmental planning, feasibility and concept development, master planning and urban design, landscape design, landscape/townscape, visual impact assessment, expert witness and arboriculture. A surge in public sector work and a strategy to work on projects which align with the wildlife, heritage and regeneration ethos of the practice, have been key factors in the growth. Influence expanded its team this year to accommodate the growth, with the recruitment of four professionals, as well as investing in young people who joined the company from school. This year the practice was appointed on a number of major public realm schemes including two high street regeneration projects in Northamptonshire and Norfolk, and on environmental-led schemes from a number of Wildlife Trusts nationally. Closer to home, Influence delivered multiple SEND schools in Lincolnshire, as well as working on ‘the hub’ – the first building at the new Food Enterprise Zone (FEZ) in Holbeach in the county. For 2023, Influence is again forecasting double digit growth, further recruitment and will be partnering with Naomi’s Garden, a charity which offers therapies and services for those affected by disability, sickness, suffering, isolation and hardship. The team have been appointed on a number of significant schemes to be delivered in 2023, including a nature-led project on the Lincolnshire coast and a major public realm project in the Midlands. Managing Director of Influence, Sara Boland, said: “As we reflect on a year where the team and I have really pushed forward with our growth and diversification strategy, I’d like to say a huge thank you to our clients who have chosen us to deliver landscape services for them. I am continually grateful for their support and trust in us. “To deliver those services, over the years we have built an incredible team here and the practice’s performance is very much a joint effort. I’m proud of the diversity, specialist skills and dedicated attitude of the team and they also deserve a big thank you. “We have delivered on and are actively working on the type of projects I used to dream about securing; for the public sector, private operators and not-for-profit environment-led organisations that I admire. Our strategy for 2023 is to continue to create special places that provide pivotal rejuvenation to communities, attracting people and nature in balance.”

How outsourcing can benefit any business

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Outsourcing has become the new buzzword in business. These services come with a range of benefits to businesses big and small, and it is about more than the bottom line too. The benefits outsourcing elements of your business can bring to your balance sheet are obvious, but outsourcing has much more to offer besides better profit and loss statements. Here are just a few of the many ways switching to outsourcing can benefit your company and help you to grow your business. Access To Premium Services Small to medium-sized businesses used to struggle to compete with the more prominent brands and names in their industry. They did not have access to the same resources and services as their larger competitors, which would affect their bottom line and their ability to retain clients. Thanks to outsourcing, this has changed. Now, even start-ups can have access to premium services without having to absorb the expense of an in-house team. Translation services are the perfect example of this. Translators are high-skilled workers who can command a lot of compensation if you are hiring for an in-house translator. Outsourcing this task is much more cost-effective. Take a look at Rosetta Translation’s website. Their translation services provide suitable London based options and can save any business a considerable amount of money while supplying high-quality translations for legal, medical, technical and marketing documents. This gives businesses access to a premium quality resource without having to cover the costs of a full-time translator or translation department. Outsourcing Buys Time When you begin to use outsourcing services for your business, you will have more time to concentrate on what matters. Growing your business and finding new clients to expand your customer base should always be the focus of a manager or owner, but handling the day-to-day demands can get in the way. By outsourcing, you give yourself more time to look at the bigger picture and focus on developing your business and expanding its reach. Outsourced services can grow with you. This makes planning for the future easier, as you know you can service more clients and expand your customer base without a drop in the quality of the products or services that you offer your existing consumers. Many businesses can struggle to expand to handle an increase in demand. With outsourcing, you have a team ready and waiting to take on an increase in workload. The costs are scalable too, making it easier to budget for growth. Outsourcing Gives You An Advantage Every industry is competitive. Even if your business serves a niche, there will still be other companies out there challenging you for market share and trying to grow themselves at the expense of your business. Using outsourcing for many different elements of your business gives you an advantage in a competitive marketplace. You have resources that you can tap into quickly that other companies may only dream of. This allows you to move forward confidently, offering a standard of service that your competitors cannot. Having the edge over the competition is key to growth. Outsourcing allows you to expand your market share and take on new business without slowing down your momentum or suffering from bottlenecks in production or administration. This makes your business more flexible and adaptive, while your competitors are stuck and unable to accommodate demand increases. When you are challenging for new customers and a greater share of the market, your outsource allies have your back and will be there to help facilitate your expansion. They grow as you grow. Cut Down On Hardware Investment One of the biggest drains on any business balance sheet is buying and servicing equipment. Maintenance costs can be prohibitive, not just from the price of the infrastructure itself but also the manpower needed to monitor and maintain it. By switching to an outsourcing service, you remove these costs from your balance sheet for good, freeing up funds that you can invest in areas that get you a better return. This can be incredibly beneficial in Information Technology services, for example. New computers, devices, and IT infrastructure like servers can all be very expensive to buy or rent. For a startup or small business, you may not have the money required to make these purchases and maintain the equipment that can prevent your company from growing and succeeding. Outsourcing your IT services is a great way to save money, improve the level of service you offer, and grow your business. The benefits outsourced IT offers should not be underestimated or go overlooked by businesses. This is a great way to boost your balance sheet while improving standards of service. Reduce Costs Across The Board The balance sheet can make or break a business. Even if you operate a successful company, a high level of regular outgoings can cause problems. Lots of profits mean little if you have a lot of losses to absorb. Switching to outsourced services can make some huge reductions in labour costs, as well as the expense of many consumable items. It also saves time, which is as valuable as money in any business. Outsourcing can be addictive to businesses for this reason. The money saved can have a massive positive impact on your balance sheet, and give you more capital to invest in expansion or the research and development of new products and services. Getting better value for money from your business offers your customers and clients more value too. This is the best way to attract new business and retain your customer base. Saving money across the board on a variety of regular outgoings gives you the room you need to undercut the competition and offer the same high quality for less. These are just some of the many advantages outsourcing offers a business. By making the switch soon, you can begin to focus on growing and expanding your business and take on new clients and customers with confidence. Start looking for ways to save money and improve the quality of service your business offers by finding opportunities to outsource today.